Imagine two objects hitting each other perpendicularly, as opposed to head on.
Plenty of momentum could be conserved and thrown out in a median vector.
Edit: Not only that, but even if 90% of momentum was lost - it only takes another satellite going in the opposite direction to supply all the energy. Here's what 2 ounces of plastic does at 15,000mph to a block of aluminium. https://imgur.com/gallery/8NwAhgK
Material properties essentially become completely irrelevant when things hit into other things at speeds that greatly exceed the speed of sound in either material. At that point, you get best results if you just model both objects as fluids.
Edit: Not only that, but even if 90% of momentum was lost - it only takes another satellite going in the opposite direction to supply all the energy. Here's what 2 ounces of plastic does at 15,000mph to a block of aluminium. https://imgur.com/gallery/8NwAhgK